Obama: No Deal Without A Tax Hike

December 13, 2012 at 11:00 am

Here’s the story:

President Obama today declared there would be no deal to avert the looming fiscal cliff unless Republicans agree to raise rates on the top 2 percent of income-earners.
“If we’re going to raise revenues that are sufficient to balance with the very tough cuts that we’ve already made and the further reforms in entitlements that I’m prepared to make, that we’re going to have to see the rates on the top 2 percent go up. And we’re not going to be able to get a deal without it,” he told Bloomberg News in his first interview since the election.
“It’s not me being stubborn. It’s not me being partisan. It’s just a matter of math,” he added.

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